Huabao International Holdings Ltd. 's deputy chief financial officer was arrested, and its office in Hong Kong was raided by the city's anti-corruption watchdog, the fragrances and tobacco flavorings giant said. It was the latest development in a graft scandal at the Hong Kong-traded company. Huabao shares plunged as much as 15%, the biggest intraday loss since July 2022.

https://www.caixinglobal.com/2023-07-07/hong-kong-graft-busters-raid-office-of-flavoring-giant-huabao-102073146.html

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